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tv   Your Money  CNN  November 16, 2013 6:30am-7:01am PST

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public. >> thank you for watching today. we will see you at the top of the hour. first, "your money" with christine amanpour. it starts right now. >> america in decline. or is it? that is the very question i'll pose in just a moment. welcome to your money. i'm christine romans. we saw this president's achievement in shambles this week. it is part of a government so poorly run, it shutdown. all this while americans struggled to find jobs that pay livable wages. wait, is it really as bad as it seems? this is a country that can peacefully transfer power from this man, whose father was president, to this man, whose father was born in kenya. what does this look like to candy crowley who has been a
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witness to history throughout the world? >> the rest of the world has started to wonder if this is business as usual or the normal for the united states. the number of officials who i talked to, whether they are foreign world leaders or american ambassadors abroad. they are very concerned about the perception of america abroad. in other words, a government that can come to a shutdown. people were stunned by it. on the other hand, you didn't see it tanking in the market because people are used to it and thinking by the very end andless minute, something will happen to right the ship. >> is this as bad as it seems from the inside or is this loud political sharp elbows? >> i think there are sharper elbows than there used to be. the political debate has always been us. i think one of the problems here has been that with the rise of the tea party, and let's remember, it used to be
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democrats who had trouble with their liberal wing. out of that is the democratic leadership council. that brought you president bill clinton. there is an evolution of how these things work. i think she is right. at this point the understanding of congress is it is like homework. they work to the deadline every single time. maybe over the deadline, but they get it done. >> one thing to that point. candy is right. it is ever us, the political confrontation is usual. the way the tea party wing of the republican party is viewed abroad is in terms such as the taliban wing of the republican party. that is what the economists are calling it. it is not a rag. it is a conservative financially fiscally conservative body that is very concerned about the so-called extremist wing. in europe, even conservative parties are nowhere as near
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conservative as the republican party here. >> in the meantime, we have the issue where under the barack obama economy, many argue the biggest recipients of progress have been already rich people. a man who came to power, i'm speaking for everyone. how difficult is that? the inequality story and this president, can he do something? >> i think he is very limited because the next two years are his last two years. the more we move forward, the more of a lame duck he is. i think it is difficult for him to do something major on this. inequality is this century's, if you will, real problem here. >> i agree. >> because it is so insane. it is ridiculous. i think that you are beginning to hear from voices with platforms. >> if you talk about raising the minimum wage or livable wage in the country, can he do that?
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can he get anything done with the kind of rankor in washington you see right now? >> i think partly because of the democrats and republicans don't see the minimum wage to address diversity. when you talk mostly to people about income inequity. that means we are looking 20 years out from my real change. >> the president's agenda derailed by the nightmare rollout of the affordable care web site. coming up next. the boss is apologetic. >> i'm sorry. i think everybody understands i'm not happy. >> how does a man who wanted to shutdown the government over this law feel about it? >> was it worth it? >> i continued to speak in support of defunding obama care until i am no longer to stand.
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>> absolutely. >> i'll take you inside and outside washington for answers next. sm no, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicorette mini delivers fast craving relief in just 3 minutes. double your chances of quitting with nicorette mini. ♪ [ male announcer ] united is rolling out global, satellite-fed wi-fi to connect you even 35,000 feet over the ocean. ♪ that's...wifi friendly. ♪ that's...wifi friendly. but with less energy, moodiness, and a low sex drive,y first. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron.
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that's health in numbers. unitedhealthcare. another weekend and a bigger mess for obama care. there are at least a dozen questions of how it will work. it is unclear how many policies will be reinstated. it is unclear how many policyholders acquired other policies. reinstated policies could cost 10% to 20% more. president obama tried to level with the the american people. >> it has been six weeks since the affordable care act has been open for business. i think it is fair to say the rollout has been rough so far. >> understatement of the year. the president says this latest move is a fix, but is it just
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fuelling more criticism of a law with fierce opponents. remember ted cruz's 21-hour filibuster? >> was it worth it? >> i will speak on defunding obama care until i am unable to stand. >> but senator john mccain disagrees. >> i campaigned all over this country in 2012, i said elect mitt romney. when they shutdown the government and harmed my citi n citizens that i'm representing, i will fight them every step of the way. i will fight them every step of the way. it's pointless. >> i spoke to governor rick scott of florida, he is a man who made a fortune in for-profit health care. he wants nothing to do with obama care. i asked him directly of the
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charges of elijah cummings. i asked him about the score of political points. >> to me, this is the most inexplicable actions of one of the elected representatives against their own people. >> and here is governor scott's response. >> now is the fact that they can't put together an exchange that they said they could do. look, they said this is their plan. this was their plan. we didn't pass this. the federal government passed this. >> how will you get your uninsured floridians? >> we changed our economy. the four years before i became governor, the state lost 832,000 jobs. state debt increased by $5.2 million. now we have the private sector.
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>> are the jobs that have health insurance? >> absolutely. one of two things will happen. you will either get insurance through your employer or when you have a job, you can take your money and buy health care. you get to spend the money the way you want to spend it. >> all right. almost 25% of florida's residents are uninsured. that is the second highest percentage among the 50 states. gloria borger, she has the inside scoop on the obama care rollout debacle. you hear the word debacle all the time. your piece was great. mad, frustrated, angry. how could he not know about the web site problems? >> i know. that is the big question everybody is asking. he is the president of the united states. most powerful man in the world, right? with the team of the best and brightest around him. in doing a lot of nosing around and talking to people in the
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administration and former top-level officials in other administrations, there were a few explanations. first of all, everyone said, there is no czar in charge of health care. remember that term czar? why do you need czars in charge of things? >> this is why you need czars. >> so you have somebody accountable. you may be regarded as a
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tattletale. >> you have people who think they can work in a unit. that wasn't happening. >> the other thing is who likes to give the president bad news, right? nobody does. there needs to be a designated truth teller. i think that can go to the president without fear and say, you know what? you are isolated way up there in the oval office. i will tell you what i'm hearing and you need to know this so we can make some decisions. >> gloria, he has to reboot this thing. he has to reboot the message and literally reboot the web site and reboot, we're in the third year of it. this is the exchange rollout. will he be able to reboot it and change this story? >> you know, he has to change the narrative because the second term hangs in the balance. he has a lot of other things he wants to get done most
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prominently immigration reform. lost in this is house speaker john boehner saying we're not going to do it. the president has to get his credibility back with the american public. the reason he is having problems with his democrats is not only his credibility on the line, but it trickles down to them. their credibility is on the line. they have to start reading from the same page and stop running scared about the president's health care plan so they can move on to the next agenda item. right now, they are stuck in the muck. we're not sure this is all going to get fixed by november 30th. people believe the president did not tell them the truth when during the campaign he said if you like your health care plan, you keep your health care plan. what we saw this week from the president was sort of in the hour-long press conference he gave, was somebody trying to apologize and say, you know what? this is my responsibility.
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can't believe this on somebody else. >> we didn't fumble the ball, he turned it over and lost control of the ball. that is how john king puts it. thank you, gloria. a picture is worth a thousand words, but the naked pictures you are sending, worth more than $3 million. could snapchat be worth more than $3 billion? that's next. threats are always evolving. at first, we were protecting networks. then, we were protecting the transfer of data. and today it's evolved to infrastructure... ♪ ...finance... and military missions. we're constantly innovating to advance the front line in the cyber battle, wherever it takes us. that's the value of performance. northrop grumman.
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ why would i take one pepcid® when i could take tums® throughout the day when my heartburn comes back? 'cause you only have to take one... [ male announcer ] don't be like the burns. just one pepcid® complete works fast and lasts. [ male announcer ] don't be like the burns. don'neutralize them odorand freshen.ash. with glad odorshield with febreze.
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nice. the original chairman of the board, hoboken's own frank sinatra new a lot about shiny things. things are sparkling brightly on another week. look at the returns from the
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market. 401(k)s with highs this year. when it all this good stuff to be too good to be true? it is so nice to see you this weekend. the fed's low interest rates, simply made stocks the only game in town. that is how people view it. not everyone thinks this is a good idea, mohamed. i want you to hear something from janet yellen. >> i think the economy has gotten used to the sugar you have put out there. i think we are on a sugar high. >> is that a way to describe it? a sugar high? >> the best way to describe it is an artificial situation. it is for good reason. it is important to remember. you are absolutely right. the fed will not take its foot off the accelerator. the fed will continue to support
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the markets, not because they like the markets, but that is the only way they can reach the economy. at this level of prices, christine, investors are betting on something else. they are no longer betting just on the fed being involved, they are now betting that the fed will actually be effective. that the fed will actually be able to deliver economic growth that validates the prices. that is a much more uncertain bet and one we think you have to be more careful about. at some point, you need to get off this wave. this wave cannot last forever. no one can tell us if it is within the next few months or years. at these levels of valuation, we think it is about time to take some money off the table and be more cautious because valuations are quite hastretched. >> it is time to prepare and sell some of your stock? >> correct. we will have more noise from
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washington. inevitably, there will be more disappointing growth. inevitably, china will put a question mark on it. there will be opportunities. we did not get here in a linear fashion. if which did this in may or june, there was inequity. >> mohamed, thank you so much. more evidence of a tech bubble? facebook offered $3 billion cash to buy snapchat. it allows you to send photos for only six seconds. that is the audience facebook needs, teens. it is a vehicle for a lot of nude pictures, of course, but teams really love the way poof, their conversation disappears. so, is 23-year-old founder evan spiegal crazy for turning down
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mark zuckerberg? give me 60 seconds on the clock. it's "money time." >> one america, two economies. rich people get cheaper mortgages than average joes. lenders offering rates to attract wealthy clients. a few lucky gamers were getting x-boxes from target after they shipped them early. is this appropriate for a teenager? according to a study, gun violence in pg-13 movies have tripled since 1985. your boss's bad habits could slow down the network. 40% of tech support have cleaned up an executive's computer after
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the boss visited an infected porn site. someone is bringing home the bacon. the painting sold for $142 million at christie's in new york. it is official. one world trade center will be the tallest building when it is completed next year. millions of monsters. dozens of songs. the business of being lady gaga next. andfills each year by using one less trash bag each month, we can. and glad forceflex bags stretch until they're full.* so you can take them out less often.
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raspberries, strawberries, working at your enamel, once it's gone, you can't get it back. i would recommend using pronamel. pronamel will help to reharden the enamel, i use that every day, twice a day, and i know that i am protected. pop in the drum of any machine... ♪ ...to wash any size load. it dissolves in any temperature, even cold. tide pods. pop in. stand out. lady gaga is back. her new album just dropped and she is hosting "saturday night live" tonight. she said money is not important to her, but boy is she good at making it. here is the business of being lady gaga. 24 million albums sold. five grammys and hysterical
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outfits. the business of being lady gaga is no laughing matter. she dropped out of nyu to pursue her dream. >> it has been my destiny. >> she wrote songs for britney spears until hip hop signed her to his label. "just dance" reached number one. the monster ball tour drew 2.5 million people and grossed $227 million. >> no way. >> next up, another hit album. born this way. the queen of pop brought home $80 million in the last year. making her the top earning celebrity under the age of 30. and her new album, art pop. there's an app for that. innovating the album release and
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getting tons of applause in the press. forbes calls gaga the second most powerful celebrity in the world. >> my little monsters. my beautiful fans. >> 40 million little monsters following her on twitter. 60 million likes on facebook. mother monsters artistry extends to product placement. with videos for phones. perhaps her biggest hits have come from her charity donations. $500,000 after the earthquake in haiti. $1.5 million after the tsunami in japan. $1 million after hurricane sandy. she raised money for hers. her non-profit. >> i had this dream when i was really young that i could be
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whoever i wanted to be. >> what does the future hold for the woman in the flying dress? she plans to be the first singer to perform in space. clearly the business of being lady gaga is -- >> on the right track, baby. i was born this way. >> so when are the scandals of toronto mayor rob ford an advertising opportunity? it is time for funny money. spirit airlines is advertising low fares. the ad is complete with the embattled mayor rob ford. the mayor with a laundry list of problems. including admitting to using crack. call it a job interview for the position of party pooper. fed chairman ben bernancke invited people to drink from the punch bowl. can janet yellen do it? and jimi hendrix and janice
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joplin, they are some who had it all when they died at the age of 27. howard sounds is out with the book "27 club." that is coming in at the next hour at 10:00 a.m. eastern on cnn. outbreak on campus. a meningitis scare at the major american university. a rare strain is putting thousands of students at risk and an emergency vaccine could be the only thing to stop it. the city council wants him gone, but the crack smoking mayor is not going anywhere. now rob ford's biggest advocate is speaking out to cnn. the mayor's wife is standing by her man. the club no singer or rocker wants to be part

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